Global mining giant Rio Tinto (RIO.L) and Chinese electric vehicle manufacturer BYD (002594.SZ) are among six companies selected to advance in the bidding process for Chile’s Altoandinos lithium project, as announced by the state-run mining company ENAMI on Thursday. The Altoandinos salt flats, located in Chile’s northern Atacama region, are central to the government’s strategy to increase lithium production through partnerships with private companies.
In May, ENAMI initiated its search for a partner to either provide financial backing or operational expertise for the project, offering a yet-to-be-determined ownership stake in return. The list of companies that will proceed to the next phase includes French mining firm Eramet (ERMT.PA), which already holds mining concessions at Altoandinos, as well as South Korea’s LG Energy (373220.KS) and Posco (005490.KS), and China’s CNGR Advanced Material (300919.SZ).
Initially, twelve companies had expressed interest in the project, according to ENAMI’s announcement last month. As the world’s second-largest producer of lithium—a crucial component in batteries for electric vehicles—Chile is seeking to expand its production capacity through these strategic partnerships.
ENAMI is now set to enter negotiations with the final round of applicants, providing them with technical details about the lithium deposits at Altoandinos. The company aims to finalize a public-private partnership by March 2025.
“We are making tangible progress with the National Lithium Strategy by announcing the companies that meet our high selection standards,” stated ENAMI’s chief, Ivan Mlynarz. ENAMI, which currently processes copper for local miners, has been tasked with leading the government’s first forays into lithium production alongside state mining giant Codelco, which is also in search of a partner for its Maricunga salt flat project.
